*IMPORTANT UPDATE* 

- October 16, 2025 -

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CalHFA has announced that the Dream for All program lottery will reopen in early 2026.

 

While the exact registration dates have not yet been released, we will begin begin issuing preapprovals for clients who wish to enter the 2026 CalHFA Dream for All lottery. To request a CalHFA Dream for All preapproval letter, please review the program guidelines below and submit a request for an express preapproval or consultation here.

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Program Highlights:

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• Borrower receives 20% or $150,000 (whichever is less) in down payment assistance from CalHFA

• Assistance can be used for down payment and/or closing costs:

  • ​Example 1: 20% for down payment, no assistance for closing costs

  • Example 2: 17% for down payment + 3% for closing costs = 20% in total assistance​

• 1:1 growth in equity share with CalHFA applies on the property

  • Example 1: 20% in assistance received = 20% equity share

  • Example 2: 10% in assistance received = 10% equity share

  • Low income clients can access 15% equity share 

• Assistance funds must be repaid in the future when the home is sold, refinanced, or at the end of your 30-year loan term

  • There is a one-time exception to refinance without triggering repayment​

• Maximum additional down payment contribution from the borrower is 5%

• Interest rates for the program are set by CalHFA and change daily (rates for the DFA will not be published until the program is available)

• 2-1, 1-1, and 1-0 temporary rate buydowns are permitted

 

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Eligibility:

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• Borrower(s) must be a first-time homebuyer (not owned a home in the past 3 years)​

• At least one applicant must be a California resident

• At least one borrower must be a First-Generational Homebuyer

  • Cannot have owned or been on title on a home in the past 7 years​

  • To the best of the homebuyer's knowledge whose parents do not have ownership interest in a home in the United States

• Borrower(s) gross income must be below the limit for the county the home is purchased in: 2025/2026 CalHFA Dream for All Income Limits

• Maximum DTI (debt-to-income ratio) is 45-50% 

• Minimum credit score of 660-680​

• Conventional only (no FHA options)

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Example Loan Scenarios: